FFIs still ditching US clients in light of Fatca
FFIs have been working hard on their Fatca compliance programmes over the last two years, but some have been weighing up whether the income from their US clients is worth the investment in Fatca compliance. Jessica Meek reports on speculation that FFIs have been ditching US clients in light of Fatca
Over the last two years financial institutions outside the US have had to accept that one or way or another they will have to comply with the Foreign Account Tax Compliance Act (Fatca). These foreign financial institutions (FFIs) have been working hard on compliance programmes that will enable them to recognise US indicia on new and existing clients. Significant investment has been made in
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